Undoubtedly, since 2020 businesses have experienced a plethora of major disruptions, including accelerated labor market challenges. The shortage of skilled workers coupled with ongoing inflation is forcing employers to do more with less.
One way to combat the problem is to upskill employees you already have. Ohio’s TechCred program can offer eligible employers funding to do just that. Recognizing that businesses across all industries regularly make sizeable investments in technology, the Buckeye state offers the TechCred program to help employers stay competitive and support the upskilling initiative. Since its launch in 2019, the program has helped numerous industries and has recently announced new application windows for its 2023 program.
What Is the Ohio TechCred Program?
In a nutshell, Ohio’s TechCred program offers credential reimbursement to eligible Ohio employers aiming to develop, train or upskill current or future employees via technology related, industry recognized certifications and credentials. The program reimburses employers up to $2,000 per credential earned and allows for up to $30,000 per employer, per funding round. If you are a registered business in Ohio and employ Ohio resident W-2 employees, your company is eligible for the program.
Since the program began, Ohio has awarded over $60 million across various industries, which ultimately supported workers across the Buckeye state earning over 53,000 industry recognized credentials (see Ohio’s data on TechCred under the “Visualize” tab). The manufacturing industry has proven to be the largest sector taking advantage of the program to date. Below gives an industry comparison based on data from the data.ohio.gov website:
>> Find out more about how the program works and eligibility.
What Are the Ohio TechCred 2023 Application Windows?
Throughout 2023, there are a handful of application windows to apply for the program:
- March 1-31, 2023
- May 1-31, 2023
- July 3-31, 2023
- September 1-29, 2023
- November 1-30, 2023
The Ohio TechCred Program has the potential to help your business retrain employees with the skill sets you need. If you aren’t taking advantage of this program, it may be worth considering as you plan for your company’s 2023 needs.
Contact Matt Tomko at firstname.lastname@example.org, Marc Mazzella at email@example.com or a member of your service team to discuss this topic further.
Cohen & Company is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law.